Comments on: Mortgage mess TV

By: zegham

zegham — Mon, 18 Oct 2010 19:31:25 +0000

Hey Felix,

Loved the video, perfect example of asymmetric information. I am currently a student studying Banking and Finance with the LSE internation program. I had thought of re doing your skit in class for a presentation of asymmetric info, but would honestly believe that would not be doing justice. I would like permission to play this clip and is there anyway I can download it?.

By: Derrida

Derrida — Sat, 16 Oct 2010 17:34:31 +0000

Statute of limitations has run….

By: Developer

Developer — Fri, 15 Oct 2010 18:03:30 +0000

I got seasick watching this video, but the content was great.

Looking forward to next video.

By: fred5407

fred5407 — Fri, 15 Oct 2010 17:50:51 +0000

The good banks and credit unions will survive. The crooked ones will wither and die. Good riddance. Just today we discovered that a mortgage company is still showing an asset on our property 3 years after it was paid off. I wonder how many more of these shadow assets are still around.

By: johnnysocco

johnnysocco — Fri, 15 Oct 2010 06:26:38 +0000

Felix,
Whatever happens I just hope Goldies don’t get hurt.
They’ve been through a lot these last few year and I don’t think the partners can take much more.

By: yr2009

yr2009 — Fri, 15 Oct 2010 01:23:48 +0000

Felix,
These banks have been insolvent even without your latest discovery.
They had to change the accounting rules just to save the banks from immediate, total collapse, remember?

By: gnarlytrombone

gnarlytrombone — Thu, 14 Oct 2010 23:34:17 +0000

Excellent. Sartorially, I’d suggest a low-cut dress and Elmo.

By: ImIRate

ImIRate — Thu, 14 Oct 2010 23:19:09 +0000

Great job… When to the lynchings start?

By: johnhhaskell

johnhhaskell — Thu, 14 Oct 2010 21:51:50 +0000

@ David Merkel I don’t think the bondholders will be able to show harm from Salmon’s video…

By: Tseko

Tseko — Thu, 14 Oct 2010 21:44:43 +0000

really nice shirt, too. On the issue of the structuring, let’s not get too excited. The collateral disclosures in the bond indentures, at least by the big names, are pretty extensive, the problem was that no one was really reading them at the time. what I wonder is exactly how much money are the bond insurers spending right now to convince the world that it was not really that they did not know what they were doing in their main line of business (or they were too busy to read the indentures), but that all this was a monstrous conspiracy…..

By: lyoungny

lyoungny — Thu, 14 Oct 2010 21:31:00 +0000

I’m a big fan of the purple suit, too, @GregHao.

By: frank_mcg

frank_mcg — Thu, 14 Oct 2010 20:51:22 +0000

I can read faster than anyone can speak intelligibly. Mike Konczal’s pix on his rortybomb blog are a better addition to prose on this subject. Good try though. I admit that perhaps i am in the minority w my opinion, LOL. Keep up your good work :-)

By: GregHao

GregHao — Thu, 14 Oct 2010 20:37:19 +0000

felix, you should wear that purple suit in your next video.

By: Shnaps

Shnaps — Thu, 14 Oct 2010 20:31:47 +0000

The videos are great! Keep ‘em coming. I’m not sure I agree with your conclusion here. Worst case is prolly they wind up negotiating some settlement deal such as DavidMerkel sugguests.

By: DavidMerkel

DavidMerkel — Thu, 14 Oct 2010 19:39:03 +0000

You’re inspiring me to try doing videos like this to explain concepts.

I expect this will end with some sort of settlement or consent fee paid to bondholders. Just a gut feeling.